Wednesday, June 25, 2014

US Gross Domestic Product Negative 2.9% - First Quarter 2014

Socialist President Pinocchio Obama's job killing policies and Executive Orders are working. The Bureau of Economic Analysis reported that the the US Gross Domestic Product in the 1st Quarter of 2014 was negative by 2.9%. This is the worst quarter since the heart of the Recession in 2009. This is compared to GDP growth of 2.6% in the 1st quarter in 2013. Economists believe that the cost of ObamaCare has contributed to this dismal decline in growth rate. We need 3% or more positive GDP growth to see any job creation or economic growth in our country.

The reality is that the Obama Recession has really never ended. Millions of Americans have just dropped out of the workforce as we now have the lowest labor participation rate in three decades. Middle Class income in real terms keeps falling. What ever job growth there has been since Obama was elected has been is in low paying part or full time jobs. We now have 50 million Americans living in poverty on Welfare and Food Stamps, the highest number in our country history.

The Republican led House of Representatives has passed more than 40 bills that would help create jobs, many with bipartisan support. Socialist Senator Dirty Harry Reid, the Senate Majority Leader will not even allow those bills to come up for debate in the Senate, let alone a vote. Obamanistas at the EPA and in Congress are preventing the United States from becoming Energy Independent, which would create millions of jobs. What we are seeing are many Socialist Schemes that are job killers. Cards talk and numbers don't lie. Negative GDP growth in the first quarter of 2014 is an "F" on Obama's report card.